{
    "document_id": 15290,
    "page": 12,
    "width_pt": 612,
    "height_pt": 792,
    "rotation": 270,
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    "source_run_id": 15402,
    "item_count": 10,
    "counts_by_type": {
        "footer": 1,
        "heading": 1,
        "text": 8
    },
    "build_ms": 1,
    "items": [
        {
            "id": "p12.1",
            "order": 1,
            "type": "text",
            "bbox": {
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            "text": "April 30, 2015). Mr. Edwards reviewed these documents with board members and advised that the financials were very stable. According to Mr. Edwards, there was a $1.4 million increase in revenue in April with an expected $392,000 in tuition revenue from the summer term. Mr. Edwards further stated that an approximate $7 million deficit is expected, though he remains optimistic that Fiscal Year 2015 will end with a lower deficit amount. In response to a question about capital asset depreciation, Mr. Edwards stated that the level of depreciation is lower than from April 2014 because the University has not purchased much equipment."
        },
        {
            "id": "p12.2",
            "order": 2,
            "type": "heading",
            "bbox": {
                "l": 72.48,
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            },
            "text": "V. Fiscal Year 2015-16 Recommended Operating Budget:",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p12.3",
            "order": 3,
            "type": "text",
            "bbox": {
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            "text": "President Burse presented the recommended Fiscal Year 2015-16 Operating Budget Resolution for the Board's consideration. President Burse stated that the recommendation was built on a balanced budget with no use of auxiliary or fund balances. Further, the budget recommendation assumes tuition revenue based on level enrollment – Spring (2050) and Fall (1860) including tuition increases approved by the Board of Regents at its April 2015 meeting. Housing and Board rates for Fiscal Year 2016 would remain at the Fiscal Year 2015 level. The Board was presented with the recommended Housing and Board Fee Schedule."
        },
        {
            "id": "p12.4",
            "order": 4,
            "type": "text",
            "bbox": {
                "l": 108.72,
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            },
            "text": "Action: Motion to approve the Fiscal Year 2016 Housing and Board Fee schedule. The motion was made by Regent Henry. The motion was seconded by Regent Whitehead. The motion passed 8-0."
        },
        {
            "id": "p12.5",
            "order": 5,
            "type": "text",
            "bbox": {
                "l": 108.96,
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            },
            "text": "Maintenance of all residence halls will be completed by August 1, 2015."
        },
        {
            "id": "p12.6",
            "order": 6,
            "type": "text",
            "bbox": {
                "l": 108.24,
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            "text": "The proposed financial plan may require the use of the new University General account should enrollment goals not be met. A net reduction of 17 faculty members and a net reduction of 14 staff members, for a total of 31 will occur as a result of the budget if enacted. Some of the impacted employees have been notified. The budget for adjunct faculty will require a special review as necessary for any expenditures."
        },
        {
            "id": "p12.7",
            "order": 7,
            "type": "text",
            "bbox": {
                "l": 108.72,
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            "text": "The FY 16 Budget resolution does not include salary increases, this may be revisited in January 2016 after spring enrollment statistics are complete."
        },
        {
            "id": "p12.8",
            "order": 8,
            "type": "text",
            "bbox": {
                "l": 108.24,
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            "text": "A plan for a 10% reduction in headcount has also been developed in all functional areas as a contingency should enrollment projections not be met."
        },
        {
            "id": "p12.9",
            "order": 9,
            "type": "text",
            "bbox": {
                "l": 108.48,
                "t": 172.32,
                "r": 532.32,
                "b": 101.04
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            "text": "The Board inquired of the process that students must go through to complete their financial obligations. The process for insuring that students have met payment obligations will occur before students are allowed to move into the residence halls. Moreover only two (2) people have the ability to remove financial holds from student accounts and President Burse is more comfortable"
        },
        {
            "id": "p12.10",
            "order": 10,
            "type": "footer",
            "bbox": {
                "l": 301.92,
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                "r": 317.52,
                "b": 38.88
            },
            "text": "[2]",
            "attrs": {
                "block_label": "number"
            }
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}